Table 2.5: Banks for SMES
Therefore, it would be interesting to pursue digging this challenge further since out of the 77 respondents who considered this channel of fnancing, only 18 obtained fnancing from banks. (6% from all the respondents)
C- Associations & NGOs
On the process of applying for fnancing through an association “The process to apply to fnancing with associations and NGOs is relatively easy”, it seems to also entail a great complexity as refected by the respondents (43,3% who disagree with the statement) in the following chart:
Figure 2.18: “The process to apply to fnancing with associations and NGOs is relatively easy”
On the process of applying for fnancing through an association “The process to apply to fnancing with associations and NGOs is relatively easy”, it seems to also entail a great complexity as refected by the respondents (43,3% who disagree with the statement) in the following chart. Among the active associations, NGOs mentioned by 109 respondents who considered this as a viable channel for obtaining fnancing are: DER, Sonatel, Organisation international de la francophonie, UNICEF, AyadaLab, Nabiko, La Fondation Tony Elumelu du Nigeria, UNDP, AFD, African Union, NABIKO, Agribank, Seed.uno, UNIDO, Japanese organization JICA, GIZ, SNV Women in Agriculture, Gihub, Act in Africa, Generation Unlimited, Anzisha
D- Investors
In this section we try to understand the challenges related to obtaining fnancing for African SMEs through investors.
From the following (table 2.6) it seems to be rather difcult to reach investors that would be interested in fnancing startups or SMES (92 respondents from 177 who considered this fnancing channel) found it difcult or too difcult to reach out for investors. On a similar line, establishing the contact with potential investors also appeared to present a high degree of difculty as relayed by half of the respondents (49,7%) qualifying that this was indeed difcult / very difcult to achieve. Also, more than the third of our respondents (35,1%) mentioned that it was hard to understand what the investors required exactly, justifying that such startups need to be properly trained and prepared for the various investor requirements and ways of functioning. Finally, one third of the respondents (32,2%) who approached or were approached by investors found it hard to accept investor requirements.
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